The demand for good X is estimated to be QXd = 10,000 – 4PX + 5PY + 2M + AX where PX is the price of X, PY is the price of good Y, M is income and AX is the amount ofadvertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, andAX = 1,000 units. What is the quantity demanded of good X?
Note
56. The demand for good X is estimated to be QX
d = 10,000 - 4PX + 5PY + 2M + AX
where PX is the price of X, PY is the price of good Y, M is income and AX is the amount ofadvertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, andAX = 1,000 units.the quantity demanded of good X is 61,300.
where PX is the price of X, PY is the price of good Y, M is income and AX is the amount ofadvertising on X. Suppose the present price of good X is $50, PY = $100, M = $25,000, andAX = 1,000 units.the quantity demanded of good X is 61,300.